Pipavav Shipyard can see 10-12% upside: Thacker

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Pipavav Shipyard can see 10-12% upside: Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Pipavav Shipyard can see 10-12% upside in next few week.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Pipavav Defence See messages about Pipavav Defence Pipavav Defence BSE | NSE 10/02/12 Are Mutual Funds betting on Pipavav Defence?

Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Pipavav Shipyard can see 10-12% upside in next few week.

Thacker told CNBC-TV18, "Once Pipavav Shipyard price manages to get past the levels of Rs 59-60 very clearly that was one level which the stock price had not closed above since the initial public offering had happened, so I think that was a good breakout. It took some time consolidating after giving a breakout and now we are seeing some kind of a follow up action. This is one stock probably a good stock to hold from a trading point of view it could still give you 10-12% upsides. Look for targets of around Rs 69-70 to be met over the next few weeks."